SMOG
VanEck Low Carbon Energy ETF
VanEck Vectors Global Alternative Energy ETF seeks investment results that correspond to the price and yield of the Ardour Global Index, which tracks companies primarily engaged in the business of alternative energy.
Fund Basics
| Fund sponsor | Van Eck Associates Corp |
| Category | Global Equities |
| Asset class | Equity |
| Website | link... |
| Inception date | Apr 26, 2007 |
| Assets (mns) | $167 |
| Expense ratio | 61 bp |
| Currency | USD |
Sector Breakdown
Fund Structure
| Regulation | Open-Ended Fund |
| Distributions | Annually |
| Taxation | 1099 |
| Stock selection | Market Cap |
| Weighting | Market Cap |
| Holdings Transparency | Full |
| Derivatives-based | No |
| Options available | Yes |
| Currency hedged | No |
| Fund of funds | No |
Top 10 Holdings
Complete list +
| NEXTERA ENERGY GROUP | 8.6 % |
| TESLA MOTORS INC | 8.1 % |
| IBERDROLA SA | 7.5 % |
| ENEL SPA | 6.7 % |
| BYD CO LTD-H | 6.2 % |
| LI AUTO, INC. SPONSORED ADR CLASS A | 5.4 % |
| VESTAS WIND SYSTEMS A/S | 4.7 % |
| SAMSUNG SDI CO LTD | 4.6 % |
| FIRST SOLAR INC | 2.9 % |
| ENPHASE ENERGY INC | 2.8 % |
Constituent Breakdown
| Number of holdings | 77 |
| Herfindahl-Hirschman Index | 413 |
| Wgt avg mkt cap (mns) | $107,505 |
| Large cap (>$10bn) | 60.1% |
| Mid cap ($2-10bn) | 20.6% |
| Small cap (<$2bn) | 2.4% |
| Developed mkts. | 73.1% |
| Emerging mkts. | 26.9% |
Country Exposure
 |
UNITED STATES | 35.9 % |
 |
CHINA | 17.9 % |
 |
SPAIN | 9.3 % |
 |
DENMARK | 7.5 % |
 |
ITALY | 7.0 % |
 |
SOUTH KOREA | 5.1 % |
 |
CANADA | 2.4 % |
 |
NEW ZEALAND | 2.2 % |
 |
IRELAND | 1.9 % |
 |
SWEDEN | 1.9 % |
Historical Performance
Standardized Annual Returns (as of 08/31/2023)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | Incep. |
|---|---|---|---|---|---|---|
| 3.9% | -10.5% | -15.0% | 2.3% | 14.2% | 9.9% | -- |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 1.18 | 47% |
| MSCI EAFE | 1.12 | 44% |
| MSCI Emg Mkts | 1.17 | 46% |
Liquidity Measures
| Avg. volume (000) | 2 |
| Turnover | 0.1% |
| Avg. Bid/Ask (% of price) | 0.66% |
| ADV of underlying (mns) | $4,533 |
Technical Indicators
| Recent close | $105.26 |
| 30d moving avg. | $113.00 |
| Annualized volatility | 30.8% |
| Relative strength (RSI) | 34 |
| Short interest (ETF) | 0.6% |
| Short interest (underlying) | 0.0% |
Distributions
Assets Under Management (mns)
Money Flows (mns)
Short Interest (as % of shares outstanding)
Long Money Flows (mns)
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Comparable ETFs Based on Overlap
| Ticker | Fund Name | Overlap vs. SMOG |
Expenses vs. SMOG |
ALTAR Score™ vs. SMOG |
|---|---|---|---|---|
| ERTH | Invesco MSCI Sustainable Future ETF | 32.7% | -5 bp | +1.3% |
| GCLN | Goldman Sachs Bloomberg Clean Energy Equity ETF | 29.9% | -16 bp | +2.5% |
| SOLR | SmartETFs Sustainable Energy II Fund | 28.5% | +18 bp | +1.4% |
| CCSO | Carbon Collective Climate Solutions U.S. Equity ETF | 27.8% | -26 bp | 0.0% |
| ICLN | iShares Global Clean Energy ETF | 27.8% | -21 bp | +1.1% |
| VCLN | Virtus Duff & Phelps Clean Energy ETF | 26.5% | -2 bp | +1.3% |
| BATT | Amplify Lithium & Battery Technology ETF | 26.3% | -2 bp | -0.3% |
| RNWZ | TrueShares Eagle Global Renewable Energy Income ETF | 25.3% | +14 bp | +3.8% |
| ETEC | iShares Breakthrough Environmental Solutions ETF | 25.2% | -14 bp | +3.1% |
| QCLN | First Trust Nasdaq Clean Edge Green Energy Index Fund | 23.5% | -3 bp | -3.6% |
Risk and Returns: SMOG vs. Comps (1 YR)
Notes: Top 10 overlapping ETFs. Funds with insufficient history not shown. Some funds may overlap. Hover over data point for ticker symbol.
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Results & Estimates
| 2018 | 2019 | 2020 | 2021 | 2022 | 2023E | 2024E | ||
|---|---|---|---|---|---|---|---|---|
| Sales per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Earnings per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Dividends per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Book value per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- |
Return on Equity
Net Margins
EPS Revision Activity (6 mo. ago = 100%)
Compound Annual Growth Rates
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Valuation Metrics
| 2022 | 2023E | Fwd Est | 2024E | |
| Price-to-sales | --x | --x | --x | --x |
| Price-to-earnings | --x | --x | --x | --x |
| Price-to-cash flow | --x | --x | --x | --x |
| Price-to-growth | --x | --x | --x | --x |
| Price-to-book value | --x | --x | --x | --x |
| Yield | --% | --% | --x | --% |
Based on closing prices from 9/26/2023
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Price-to-Earnings
Price-to-Sales
Price-to-Book Value
Price-to-Cash Flow
Price-to-Growth
Dividend Yield
Historical Valuation Trends Sample data. Subscribe for access.
SHOWING:
Price-to-Earnings
Price-to-Earnings
SMOG
Notes: Based on adjusted historical results for current fund constituents. May differ from results achieved by past fund constituents. Max P/E of 100x.
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ETF Research Center Fund Rating
Our measure of an ETF's overall investment merit
ALTAR Score™
SMOG
3.1%
Cat. Avg
4.3%
Fund Category: Global Equities
| Avg. Return on Equity | --% |
| Divided by: Fwd. P/BV | --x |
| Less: Expenses | -- bp |
| Equals: ALTAR Score™ | 3.1% |
Recommendation
NEUTRAL
Average appreciation potential. A rating of NEUTRAL is assigned to ETFs with ALTAR Scores in the middle quintile (ranking between 40%-60%) of their category. This indicates that valuations adequately reflect the fundamentals of stocks in these funds.
Category Overview
There are 344 funds in the Global Equities category, with an average ALTAR Score™
of 4.3% and a standard deviation of
5.1%. SMOG's ALTAR Score™ is approximately
0.3 standard deviations
below
the category average. This places SMOG in the 40th percentile among funds in the category.
Consensus Recommendation
Sell-side recommendations on the ETF's individual constituents
Composite
SMOG
Peer Average
Recent Trends
SELL
U/W
HOLD
O/W
BUY
Recent Trends
Breakdown
Market Activity
| Latest price | |
| Change | |
| Volume | |
| Bid/Ask Spread | |
| Update |
Today's Trading
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Total Cost of Ownership (TCO) Comparison
| Expense (bp) (A) |
Avg. Bid/Ask (bp) (B) |
TCO (bp) (A)+(B) |
|
|---|---|---|---|
| SMOG | 61.0 | 66.0 | 127 |
| Peer Avg. | -- | -- | -- |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .